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November 29, 2016

China Soymeal Weekly: Prices rebound amid rising import costs (week ended Nov 27, 2016)
 
An eFeedLink Exclusive
 

Price summary

Prices moved higher.
 

Weekly transacted prices of soymeal in China

Region

Protein content (%)

Price as of Nov 20
(RMB/tonne)

Price as of Nov 27
(RMB/tonne)

Price change
(Percentage)

Heilongjiang

43%

3,380

3,380

0

Liaoning

43%

3,290

3,410

120

Hebei

43%

3,280

3,450

170

Shandong

43%

3,300

3,500

200

Jiangsu

43%

3,340

3,500

160

Guangdong

43%

3,280

3,370

90

Prices are representative and are for reference only.
RMB1=US$0.1448 (Nov 29)

 
 
CBOT January soy futures prices surged 5% to three-week high amid firm demand.

With global soy futures market rallying and renminbi sliding further, importers lifted the prices of soy. Soymeal market strengthened in tandem amid soaring costs even as transaction volumes slid about 9% to 1.54 million tonnes.
 

Market forecast

Although feed demand remains slow in China prices of soymeal are likely to increase further with the costs of imported soy climbing. Feed millers who have been keeping inventories low might be compelled to expand soymeal stocks amid concerns that the price hikes are much stronger than expected.
           

 


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